• Latest
  • Trending
Trump signs executive order to regulate social media after row with Twitter

Trump organisation convicted of tax fraud in New York

2 months ago
Nigerian singer, Tems meets Beyonce, Jay-Z ahead of Grammy awards

Nigerian singer, Tems meets Beyonce, Jay-Z ahead of Grammy awards

25 mins ago
Civil Societies honour Tinubu with Grand Commander of African Politics award

Civil Societies honour Tinubu with Grand Commander of African Politics award

4 hours ago
UBA GMD/CEO, Oliver Alawuba, conferred with doctorate degree by Imo State University

UBA GMD/CEO, Oliver Alawuba, conferred with doctorate degree by Imo State University

5 hours ago
Adebayo’s ‘The Waiting Room’ reveals life in childless marriages

Adebayo’s ‘The Waiting Room’ reveals life in childless marriages

5 hours ago
How Nigerian pastor’s wife was killed in US

How Nigerian pastor’s wife was killed in US

7 hours ago
UPDATED: Keyamo, Dogara trade words on Twitter over Tinubu

UPDATED: Keyamo, Dogara trade words on Twitter over Tinubu

8 hours ago
NLC slams El-Rufai over comments, says his ‘extremism dangerous for democracy’

NLC slams El-Rufai over comments, says his ‘extremism dangerous for democracy’

14 hours ago
Soldiers kill motorcyclist in Ibadan

Soldiers kill motorcyclist in Ibadan

1 day ago
‘It’s false’- Ex-Oyo Speaker faults  Fashola’s account of Ladoja’s impeachment

‘It’s false’- Ex-Oyo Speaker faults Fashola’s account of Ladoja’s impeachment

1 day ago
BREAKING: I’ll continue to campaign for Tinubu- Buhari

BREAKING: I’ll continue to campaign for Tinubu- Buhari

1 day ago
Naira scarcity: Dispense new notes or I’ll revoke your land, Borno governor warns banks

Naira scarcity: Dispense new notes or I’ll revoke your land, Borno governor warns banks

1 day ago
Finally, Emefiele appears before House of Reps over new naira notes

Naira scarcity: CBN begs Nigerians to endure challenges

2 days ago
Osun 2022: Stop attacking Makinde, he has no anointed candidate –Rep

Naira/fuel scarcity: Makinde deploys free buses in Oyo

2 days ago
Naira scarcity: Emefiele acting cabals’ script- Folarin

Naira scarcity: Emefiele acting cabals’ script- Folarin

2 days ago
Man slumps, dies inside bank

Man slumps, dies inside bank

2 days ago
NFIU: No going back on cash withdrawal limit

Makinde, Adelabu, Kola-Daisi suspend campaigns over fuel, naira scarcity

2 days ago
Appointments:  Clarke, Fasoranti, Adebanjo,13 others sue Buhari, demand N50bn

Presidency: Buhari’ll take major decision on naira redesign within seven days

2 days ago
BREAKING: Protests rock Ibadan over fuel, naira notes scarcity

BREAKING: Protests rock Ibadan over fuel, naira notes scarcity

2 days ago
  • Contact Us
  • Advertise
Sunday, February 5, 2023
Newspeakonline
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
Newspeak
UBA
Home World Americas

Trump organisation convicted of tax fraud in New York

admin by admin
December 7, 2022
in Americas
Reading Time: 4 mins read
261 3
0
Trump signs executive order to regulate social media after row with Twitter
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

Akinwande Soji-Ojo

RelatedPosts

Buhari: Why I returned from US on my birthday

Buhari: Despite facing many challenges, I’ve done my best for Nigeria

Ex-US president, Donald Trump sues CNN for defamation

Donald Trump’s real estate company was on Tuesday convicted of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal problem facing the former United States president as he prepares to run for the office again in 2024.

The Trump Organization, which operates hotels, golf courses, and other real estate around the world, was found guilty of paying personal expenses for top executives including former chief financial officer, Allen Weisselberg, and issuing bonus checks to them as if they were independent contractors.

The company faces up to $1.6 million in fines after being convicted on all charges, including scheming to defraud tax authorities, conspiracy and falsifying business records. Trump was not charged in the case.

Justice Juan Merchan, who presided over the trial in New York state court, set a sentencing date for January 13.

While the fine is not expected to be material for a company of the Trump Organisation’s size, the conviction could complicate its ability to do business.

Weisselberg, 75, testified as the government’s star witness as part of a plea deal that calls for a sentence of five months in jail.

Manhattan District Attorney, Alvin Bragg, whose office prosecuted the case, called the verdict “very just.”

Speaking of the Trump Corporation and Trump Payroll Corporation, the two units of the Trump Organization which were convicted, Bragging said: “The former president’s companies now stand convicted of crimes.”

Asked if he regretted not charging Trump in the case, Bragg did not respond.

He has said that the office’s investigation into Trump is continuing.

Meanwhile, Alan Futerfas, a lawyer for the Trump Organisation, said the company would appeal and that the criminal law governing corporate liability was vague.

“It was central to the case,” he told reporters after the verdict.

The jury deliberated for about 12 hours over two days

The case centered on charges that the company paid personal expenses like free rent and car leases for executives including Weisselberg without reporting the income, and gave them bonuses as non-employee compensation from other Trump entities like the Mar-a-lago Club, without deducting taxes.

According to testimony during the four-week trial, Trump himself signed the bonus checks annually, paid private school tuition for Weisselberg’s grandchildren, authorised the lease for his luxury Manhattan apartment and approved a salary deduction for another executive.

“The whole narrative that Donald Trump was blissfully ignorant is just not real,” prosecutor Joshua Steinglass told jurors during his closing argument on Friday.

He said the “smorgasbord of benefits” was designed to keep top executives “happy and loyal.”

Republican Trump, who had on November 15 announced his third campaign for the presidency, said in a statement that he was “disappointed” by the verdict but called the case a “Manhattan witch hunt.”

Both Bragg and his predecessor who brought the charges, Cyrus Vance, are Democrats.

The Trump Organisation is facing a separate fraud lawsuit brought by New York State Attorney General, Letitia James.

Trump himself is being investigated by the U.S. Department of Justice over his handling of sensitive government documents after he left office in January 2021 and attempts to overturn the November 2020 election, which he lost to Democrat Joe Biden.

Lawyers for the Trump Organisation argued that Weisselberg carried out the scheme to benefit himself, not the company. They tried to paint him as a rogue employee. Weisselberg is currently on paid leave and testified that he hopes to get another $500,000 bonus in January

Trump wrote on his Truth Social platform on November 19, that his family got “no economic gain from the acts done by the executive.”

Weisselberg, who pleaded guilty in August to concealing $1.76 million in income from tax authorities, testified that although Trump signed checks involved, he did not conspire with him.

He said that the company saved money by paying for his rent, utilities, Mercedes-Benz car leases for him and his wife and other personal expenses rather than raising his salary, because a wage hike would have had to account for taxes.

He said Trump’s two sons, who took over the company’s operations in 2017, gave him a raise after they knew about his tax dodge scheme.

By then, Trump was president, and the company was preparing for greater scrutiny.

“We were going through an entire cleanup process of the company to make sure that since Mr. Trump is now president everything was being done properly,” Weisselberg testified.

(Reuters)

Related

What’s your Reaction?
Like
Like
0
Dislike
Dislike
0
Laugh
Laugh
0
Angry
Angry
0
Sad
Sad
0
Accurate
Accurate
0
0 Shares
Facebook Twitter WhatsApp Linkedin Messenger
×

Share this post!

Facebook Twitter WhatsApp Linkedin Messenger Telegram Tumblr
Tags: tax fraudTrumpU.S

Recent Posts

Nigerian professor  found dead in US

Nigerian professor found dead in US

January 18, 2023
Dora Akunyili’s daughter appointed first black Chief Medical Officer of US hospital

Dora Akunyili’s daughter appointed first black Chief Medical Officer of US hospital

January 13, 2023
Woman stabs husband to death, severes manh**d

Woman stabs husband to death, severes manh**d

January 13, 2023
Why Elon Musk may step down as Twitter CEO

Elon Musk to quit as Twitter CEO when he finds someone ‘foolish enough to take the job’

December 21, 2022
Elon Musk blames ‘activists’ as Twitter loses $4m daily

Musk reinstates suspended Twitter accounts of journalists

December 17, 2022
Elon Musk terminates $44bn Twitter takeover deal, board kicks

EU threatens sanctions after Twitter suspends journalists’ accounts over clash with Elon Musk

December 16, 2022
12-year-old Nigerian chess prodigy granted asylum in US

12-year-old Nigerian chess prodigy granted asylum in US

December 14, 2022
‘Drop box’ visa applications not available in Nigeria, US Consulate clarifies

US extends eligibility period for non-immigrant visa renewals

November 26, 2022
Next Post
Tinubu: I’ve received original replacement certificate from Chicago varsity

Tinubu explains source of wealth, slams critics

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newspeakonline

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Navigate Site

  • Breaking News
  • Business
  • Entertainment
  • Interview
  • Newpeak Magazine
  • Newspeak Exclusives
  • Politics

Follow Us

No Result
View All Result
  • Home
  • Latest News
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
  • Opinion
  • Interview
  • Newspeak Exclusives

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newspeak We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications